Question about Presidential $1 Coin Act

Banks will be able to stock them because the mint/federal reserve will have provisions to
deliver them ahead of existing circulated coins, JUST like they do for the State Quarters
and the new nickels.

Retailers are another matter. I saw the "guts" of a self-check stand at Wal-mart. They had
to fill the changer. It was a Telequip model, just like you see sitting on the counter of
some stores, only it was inside the housing of the self-check stand. IF ONLY they would
use the dollar coin cassette and fill them with dollar coins, they could spew many tens of
millions of dollar coins out into the USA every year. Ditto for Home Depot, Albertsons,
etc. Ending the rag-dollar would certainly make that happen.

-Fred Shecter


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"""Remove "zorch" from address (2 places) to reply.
"Paul Anderson" wrote in message
...
In article , Fred Shecter
wrote:

Yes, back to Sac after the program.
Yes, 2005 Sacs.
And possibly 2006 Sacs as well as the Presidential GDs.

I see a danger in the Presidential dollar series. Won't the media
present this as "another in the line of dollar coin failures"?

It will be a failure, of course, unless banks and retailers can be
convinced to actually stock and use them this time.

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

In article , Fred Shecter
wrote:

Banks will be able to stock them because the mint/federal reserve
will have provisions to deliver them ahead of existing circulated
coins, JUST like they do for the State Quarters and the new nickels.

They will be _able_ to stock them.

Why will banks bother with dollar coins just because the design has
changed? Will Mint Director Fore visit every bank and tell every
teller that "yes, we still make dollar coins" and instruct every branch
manager to order them?

What's in it for the banks? They mostly ignored customer requests for
Sacajawea coins in 2000. What will change in 2006?

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

What will change is that they will ship them "to the front of the line" just like the
State Quarters. (Didn't I already say that?)

ALSO, the existing supply of commingled dollars will be sorted to isolate and destroy (or
ship to Ecuador?) the SBA dollars.

-Fred Shecter
http://cgi6.ebay.com/ws/eBayISAPI.dl...shreadv ector

--
"""Remove "zorch" from address (2 places) to reply.
"Paul Anderson" wrote in message
...
In article , Fred Shecter
wrote:

Banks will be able to stock them because the mint/federal reserve
will have provisions to deliver them ahead of existing circulated
coins, JUST like they do for the State Quarters and the new nickels.

They will be _able_ to stock them.

Why will banks bother with dollar coins just because the design has
changed? Will Mint Director Fore visit every bank and tell every
teller that "yes, we still make dollar coins" and instruct every branch
manager to order them?

What's in it for the banks? They mostly ignored customer requests for
Sacajawea coins in 2000. What will change in 2006?

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

In article , Fred Shecter
wrote:

What will change is that they will ship them "to the front of the
line" just like the State Quarters. (Didn't I already say that?)

Yes, you said that. But you know as well as I from personal experience
that most banks won't order them. These are the banks that were
downright rude to those asking for dollar coins in 2000. My point is
that those banks won't order dollar coins even if they're new and
shiny, SBA-free and asked for by customers. Not even if there's a free
Happy Meal with every box.

ALSO, the existing supply of commingled dollars will be sorted to
isolate and destroy (or ship to Ecuador?) the SBA dollars.

There are probably some breaches in the coastline of Florida that could
benefit from a large shipment of SBA dollars.

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company

In article Paul Anderson writes:
In article , Fred Shecter
wrote:

Yes, back to Sac after the program.
Yes, 2005 Sacs.
And possibly 2006 Sacs as well as the Presidential GDs.

I see a danger in the Presidential dollar series. Won't the media
present this as "another in the line of dollar coin failures"?

It will be a failure, of course, unless banks and retailers can be
convinced to actually stock and use them this time.

That is the crux I think. I have read through the bill, and it is very
optimistic about the acceptance and usage of dollar coins after this
move. Quite a bit of illogical reasoning is behind this. People will
hoard them, not use them. It looks more like a way to generate money
(even spouses are to be honoured with a special bullion coin).
The only way to get people to use them is to stop printing dollar notes
in large quantities, or even altogether. People may bitch at first, but
they will be accustomed to it within a few months. When in the
Netherlands the 5 Gulden coin was introduced (over US$ 2.00 at that time),
there was much bitching, but indeed, only a few months, and of course,
printing 5 Gulden notes was stopped.

Another strange thing about it is that *all* presidents are to be handled
on equal footing. Darn, there are a few countries that have put past
presidents on coins (Germany is one of those), but only if those
presidents are generally felt to have been outstanding, and only after
they died. You have to be careful. I have the Czechoslovakian note
Pick #98, 100 Korun, which circulated just a little more than a year.
That was because the person figuring on it was ultimately not the
person to honour with a banknote.

But I see it happening: "Democratic presidents only please"...
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/